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Fort Financial Services - fundamental and technical analysis
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[QUOTE="Valdis, post: 69280, member: 30420"] [color=#00cc00][u][b]"Fort Financial Services"- fundamental and technical analysis[/b][/u][/color] [u][b]15.09.2014[/b][/u] [color=#ff9900][i][b]Fundamental analysis[/b][/i][/color] [i]The dollar instruments multidirectional movement points to the fact that most of the players are waiting for the Fed meeting which will take place this week. Most of the dollar instruments continue to move in the dollar favor, but some major European pairs have stopped falling and are at the previously achieved levels at least. This situation may point to the dollar positions profit close. The American dollar slightly rose last week. The traders are waiting for the Fed rate increase in the mid-2015. The initial jobless claims release put some pressure on the dollar, but given the fact that we had the Labor Day the last week, the correction was negligible. It was expected that the claims number will be 300 thousands. The growth amounted to 11 thousand up to the 28 June maximum with 315 thousand claims. The market participants interpreted the data as weekly variations in terms of the labor market situation improving. The FOMC meeting will be held on September 16-17, during which as expected, the possible interest rates changes will be published. Since March of this year, the Fed says that rates will remain near zero levels for the considerable time after the quantitative easing program end in October this year.[/i] [img]http://www.picshare.ru/uploads/140915/gse90rw33X.jpg[/img] [color=#00cc00][b]Euro (EUR)[/b][/color] [color=#0000cc][b]General overview[/b][/color] Recently, the dollar takes a strong position, but we need the truly high retail sales rate to meet the expectations for the monetary policy normalization in the early to mid-2015. The FOMC meeting will be held this week to confirm or refute these assumptions. Also this week, the ECB is launching its new target lending program and a strong demand will be bullish for the euro. The price is finding the first support at 1.2930, the next one is at 1.2850. The price is finding the first resistance at 1.3000, the next one is at 1.3070. There is a confirmed and a weak sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement and form a «Golden Cross”. The downward movement will be until the price is under the Cloud. The MACD is in a negative territory. The price is correcting. [color=#0000cc][b]Trading recommendations[/b][/color] After the trend line 1.2930 breakthrough down the way to the support 1.2850 will be opened. We do not exclude the level of 1.3000 retest. [img]http://www.picshare.ru/uploads/140915/u9d1UCtP18.jpg[/img] [color=#00cc00][b]Pound (GBP)[/b][/color] [color=#0033cc][b]General overview[/b][/color] The sterling found a strong support and was steady against the dollar after the BoE Chairman speech. In his speech, the Chairman presented the Bank's inflation report. The increased pro-independence popularity in recent polls caused some concerns and frightened traders which were forced to sell the pound. The Scottish independence referendum will be held on 18 September. Based on the volume which was on the trades closing, the pound clearly intends to continue the correctional price growth up. In addition, it is worth noting the level of 1.6270 testing. The gap was closed. The price is finding the first support at 1.6180, the next one is at 1.6100. The price is finding the first resistance at 1.6270, the next one is at 1.6340. There is a confirmed and a weak sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement and form a “Golden Cross”. The downward movement will be until the price is under the Cloud. The MACD histogram is in a neutral territory. The price is correcting. [color=#0033cc][b]Trading recommendations[/b][/color] The potential growth target is the resistance level of 1.6340. In this case the gap will be closed. Then the downward trend may be continued. [img]http://www.picshare.ru/uploads/140915/wWv6s7kMl9.jpg[/img] [/QUOTE]
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